3033, 3065, 3095 Richmond Pkwy, Richmond, CA 94806

• Type: 30 Unit Office Building
• Purchase CAP Rate: 7.12%
• Strategy: 5 year HOLD

The Parkway Business Center is an 87,785 SF business park located in Richmond, California. It is comprised of 3 buildings on 9.83 acres of land. Recently appraised at $18 Million in late 2018 after only 3 years of ownership. Located along the major intersection of Richmond Parkway and San Pablo Avenue, the property is situated within a mile of I-80, which connects the San Francisco Bay Area to Sacramento and beyond. The property is also located within a mile of The Shops at Hilltop, the dominant regional mall in the area.

Richmond is considered to be part of the North I-880 sub-market. This sub-market contains approximately 60 million SF and is currently 8.97% vacant. Tenants are drawn to Richmond due to its relative affordability compared to Berkeley/Oakland and its proximity to executive housing in Marin County just over the I-580 bridge.